SpaceX May Receive Up to 40% of Revenue from Starlink in 2023

SpaceX can get up to 40% of revenue from Starlink alone in 2023. The company told investors it expects to roughly double its 2023 revenue to more than $8 billion from $4 billion in 2022.

Starlink brings an increasingly significant contribution to SpaceX

SpaceX told its investors its 2023 revenue could be more than $8 billion. If the company manages to meet this revenue forecast, more than 40% of those revenues, or $3.2 billion, could be from Starlink’s broadband services. The data is based on Euroconsult estimates (via SpaceNews).

Revenue distribution from Starlink

Approximately 75% of Starlink’s projected revenue in 2023 is forecast to come from subscriptions. This includes a combination of service subscriptions across its residential, business, and mobility segments. At the same time, about 25% will depend on equipment sales related to gross subscriber growth.

Starlink’s subscriber base is expected to double from an estimated 1.1 million in January 2023 to ~2.2 million by the end of 2023. This increase could be due to several factors. Among them are discounts on equipment prices, new distribution channels, and ongoing network expansion. At the moment, Starlink already offers subscriptions in 60 countries around the world.

According to estimates, the residential (consumer) segment will dominate the structure of Starlink subscribers. It accounts for over 85% of active subscriptions, including “roaming” portability plans. Starlink has yet to publicly reveal the number of subscribers to its “business plans.” But, according to expectations, this segment may account for 10% to 15% of active subscribers.

Starlink’s popularity is growing in the maritime market

Although the main income comes from ordinary users, Starlink has made impressive progress in the maritime market. As of mid-2023, it is estimated that there are over 4,000 vessels using the company’s services. Many of these ships have multiple user terminals. Some of the maritime operators intend to activate the service by the end of the year.

Progress in the aviation segment has been more limited. Fewer than 150 commercial and business aircraft are expected to operate by the end of the year. However, in 2024, the growth observed in 2023 is expected to continue. This applies to both the maritime and aviation segments.